A prequalification estimates how much you can afford, while a preapproval gives a better estimate and verifies your financial info for a loan. Learn more.

What is mortgage prequalification? Prequalifying for a mortgage is the first step in getting a loan. When you apply to prequalify, the lender will ask for some basic information about your …

Loan approval will instead be based on an evaluation of overall credit risk factors. If you’re looking to get a mortgage to buy a home, the first step is getting preapproved. Mortgage preapproval …

Are you getting ready to apply for a home loan? Use our complete mortgage preapproval checklist to make sure you have everything you need before you apply.

Feb 14, 2024 · What Is Preapproval? Unlike prequalification, preapproval – or applying for initial approval for a mortgage loan – is a formal process that comes with significant scrutiny. Before …

Prequalification estimates how much you may be able to borrow, based on an informal evaluation of your finances. Preapproval requires documentation.

Feb 23, 2024 · Mortgage Preapproval Vs. Prequalification Vs. Verified Approval The terms “mortgage preapproval” and “prequalification” sometimes are used interchangeably, but …

Oct 2, 2025 · Is Rocket mortgage a good place to get pre approved? Rocket Mortgage® may be a good option if you're facing a competitive real estate market. The company offers a verified …

Aug 8, 2025 · When you’re starting your homebuying journey, two terms you’ll hear often are pre-qualification and pre-approval. While they might sound similar, these steps are very different …

Apr 7, 2025 · Understand the phases of mortgage pre-qualification and pre-approval to make informed decisions throughout your home buying journey.